ARTIS FOUNDATION Trustees Annual Report and financial statements For the year to 31 August 2023 Charitable Incorporated Organisatlon no: 1174635 CONTENTS Reference and administrative details Trustees, report Independent Examinels report Statement of financial actimties Balance sheet 10 Statement of cash flov Notes to the financial statements 12 ARTIS FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 REFERENCE AND ADMINISTRATIVE DEfAILS R•gi8t•r•d namg: Arli$ Fothdation Charlty Roglstmtlon NUm￿r. 1174635 R¢gisterfrd Office: 311 Union 23 Wènlock Road LoThJon N1 7ST Director: Nigel Malnard TnBtsg8: The BoArd ofTw$t?es who hdd office durfng the perlod and up to the date of approv¥1 of th8s8 a¢counts were as follow8: Rebecca hA BOY￿ Suh (Resigned 13 October-2023} Lord Mlchael G Bi¢hard KCB (Resigned 3 October 20221 Baroness GM Mclntosh of Hudnall IRe8ign8d 3 O¢tober 2022) D8&Anne Donalds Mark Friènd Stacey Lamb Joanne Millard WerKly Steatham Toby Lloyd Crooks (Appointed 16 January 2023) Anlta Masih (Appointsd 16 January 20231 Emma Bonnin (Appointed 16 January 20231 JudTth Cavanagh (Appointed 16 January 20231 Bankern: HSBC 1 &17 Praed Str88t L￿dOTr W2 1NJ Accountants: JS2 Limited Crown House One Crown Squa Woking Surrey GU216HR ARTIS FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGusf 2023 TRUSTEES. REPORT STRUCTURE, GOVERNANCE AND MANAGEMENT Govornlng do¢ument Artis Foundation is reglstered 8$ a Charitable Inc4Jtwxated Organisalion (CIO) undèr its ccfisITtuh'on dated 13 S8Pt•mber 2017. Appoint n9w ¢harlty trustees The charity runs an open recrurtment process for appolntirvJ n8w Iruslees. a(Ivertising ary such opportuniti'es on Its wab$te, Reach Volunteedng, Charity Job and on the Arts CouA¢iI art$ lobs web$ite, Vacancies are al$0 publicised through social media and other fuums. Mthen recruitir¢g nèw tnjstees, the Board looks ftsr individuals wtth skills and experience whith are ol valu6 lo the ¢harity and complement those of existing trusteès. The Charity charnpion8 equality and diversty through Ihls pro¢￿$ and is committed to listening to anrward lo continuing our jcjumey together beyond the board room. Comin9 onto our tsustge board we have a plethora of new skills and muth tyn8mism lo steer us into our next phase as a cha￿. We welco￿￿ Anita M¥sih IKid(l. Judith Cavanagh (Knock knock), Emma Bonnin lAtc￿MI and Toby Crooks (Plopl lo join our wonderful team oftrustees. AIBO. many o)roratulats'ons to Sam Matthews (Oompah}, who will be our new Director, and a huge thanks lo Nigel Mainard (Boing) who is stepping down as Director to focus on recruillThJ, trairting and mwloriThJ our labulou8 Arb'$ Speoalrdts Rebecca Boyle Suh (8uzzl Chair of Tru$le88 & CowFwnder ARTIS FOUNDATION REPORT AND FINANCIAL STATEMENT5 FOR THE YEAR TO 31 AUGilSf 2023 TRUSTEES. REPORT 2022tt3- a year In Y•vi•w Our vlslon & val￿9 Arlis 18 4 creative leaming tharity four main goal8 to: 1 BriThJ the wrriculum to Irf• in Schools. 2 Promote wellbeing th¢k￿ 80ca81 issu•8. 3 Discover and nuthre 8rt18ts 88 educators. 4 Advocats the importan¢e of the arts in lewning. Brlnging th• Currfculum to Lifg 'The children feel safe and c4)nfident in Ihdr environment durfng their sessions. All Ihair inhibrtions seem lo mett away arKt I feel that l obseNe most of them fully expressing themsdves and being erealive in whichevèr opportunity is presented to them. I do believe that our children are very fortunate to have guch an amazing opportunity to 8UPPOrt th￿r ￿ative growth and developmenl." Pallrey Prlnwry School, Walsall In 2022-23 Artis, creative leaming programme brtyjght the ¢x4rriculum to lrfe in 44 prlmary schools. every single w8&k for an entire academic year. Over 9.090 thildren, many living in areas of cuMLW81 and ec¥Jnomi¢ dwivation were engaged wllh one of our Arb"s Speoali5ts who diTec*ty Impacted their le8ming, wellbeing, sofAal and 8mti1ional development. Art(s Conb'nuad Professronal Development ICPD) provlded over 1,500 hours oftraining and creath've devolowient for over 500 headteachers. teacher$ and teathrng a$$l$tsnls in 2022-23. This helped lo •mbed a lega￿ of¢realfva Kgaming in our partner tchc4Jls. Arti$ a150 delivered a populgr onliM CPD seS￿On for prlm*ry sthool laachers called Puttlng t 'A° back in STEAM.. CTr&tive approaches to SCi8nce and maths fhmuglj the PorfomiingArts. Thfr workshop Kvovided leach&r$ with the OppOrtL￿ty to take part in a 8elec*on ofactivities dèlivered by Iwo (I our Mentor Loaders that coukl than try out in Iheirown d8s¥rooms ond Snlo action. Our conb.nued partnwship wrth Sky Ari* put Artis In front of over 94.000 pee¥Jle during the Acc888 All Arts week by offering one IuL*y ¥cho)l a proied day. We are delighted to be working with winning school next yearwho are rn one of the lop deprived areas in Manchoster and they have children from 32 different ujunlries in attondance. We continued our work wrfh the Natlonal R•$our¢e Cgntrn for Supplementsry Educallon INRCSEI and delwered 3 workshops in th• North Scyjth Qfthe ojunty. Participants were leaders {lea¢hers, TAS and volunteers not formally trained as teath•ts) providirvJ 9JJpplementary education in communty-led settings, also kntywn as'cyjt of school.. Primarily bul not ￿dY$￿a1Y led by Black, Asian. rth￿ee and MI￿￿ty o)mmunrfies. "The workshop was so good, and the resources wlll b• 80 helpful. Thank you So much or arranging it and I look forward to the next workshop." CPD Workshop Partlclpart NRCSE ARTIS FOUNDATION REPORT AND FINANCIAL sTATE￿NTs FOR THE YEAR TO 31 AUGUST 2023 TrVStEES' REPORT Promotlng wellbelng and tsekling ￿CIal igsu "In an Artis session you ¢an show •voryong what you are feoling and let it all out Angryi mad, Upset, heartbroken... there's no need to worry bocaus• you've 19t It all out now." Camp Hlll Prfmary. Warwl¢k8Nro Pupil In May 2023. we were delwhled to be 8818ct•d to take part In The Big G5vg'8 Klnd2Mtnd compaign where we raised £10.000 thr¢ugh matth frjndbng and dcfialicfts. By delivering weakly perfomling art$ sessicffls at a réduced cosl in aTea8 of h￿h depriva￿On. we provide a creative education to children who may ntsl Othe￿¥18e experiencè the arts. Evidence shtMS that 82% of children engage in partlcipalory art$ oport better wellbeing, so by 8mb8dding the arts In the wider %hool tsjmmunty arHI curriculum, Artis helps to ensure that all chlldren reap the beneffts of moverr*nt, danu ar*J dranra on their Tr￿nts1 health. regardl￿# of background. The arts ar• a valuablg tool br welltfjing and improved health within chlldren. The18d¢ of a creative edLKation negthely impacts wéllbeing and mental health at $¢hool. especially for those vtho stwggle lo leam through traditional le•c*ing met￿ld$ or who struggla to commLmicate. For many pupils, partiopating in the arts 1$ crucial to transloming howtw feel aboLrt l¥aming. Artis Team & Mentsl Health Wth rnuch fc¢uy on the children we work with and the importance of de¥dw"ng Iheir wellbeing in schools, we decided that rt was wlal that the Artis management tfram also received tralning. In the summer they ¢ompbled the Mental Hoalth Awarenèss ¢our8e alongside sorrE of wr Mentor and Spetyalisl Lead•rs. This th¥Jed the team wth a more in-depth knovAedge of wh•t mental health is and the drflerent types of mental hoalth. Our Hoad of Communlcalions & Pather8hips also completed the Mentsl Health First Aldèr at work ¢ouT8e to ensure that the team are supported. "Artls makos a hugo dlffornnce to all our ¢hlldrèn. It $upports th•m with l¥nguag• development and expresslon through movgments. Ar￿8 has hglped and supported our chlldr•n wlth communl¢*ion and s¢clal skills. phy$lcal activity through movomantand emotional wellbeing. Emma Bonnln (Atchouml ArU8 Tru8ts0 & Head. Pak•man Primary S¢hool. Isllngton ARTIS FOUNDATION REPORT AND FINANCIAL sfATEMEPITS FOR THE YEAR TO 31 AUGUST 2023 TRUSIEES. REPORT Dlscov•r and nurturn artlsts a •ducators "I look forward to summer tralnlng all yearl It 55 an omazlng experlen¢• where the mest Incredibly ¢roatlve and talented people I know are all finally in the samè r¢)om. We thon spend 2 or 3 jam-paeked days oxploring brflllant activitl¢$. having dl$cus8lons. and idg0 sharlng. It sands mo into thè next academie year with ronow8d passion and full of excitem&ntto $har¢ now songs, tschniqLres and sosslons with my ¢lass•$. It Is by far th• most valuable CPD I d¢. comlng away with so much usable Informafion and it is d•finitely tho most funl" Jenny W•ymBS (Bopl, Artl$ 8pe¢lalst Thi5 year, Artis wekonpd 23 new talented F*rf0M)I￿ artists tojoln our panel of go Arti* Specialists. Artis SFwa118ts are at the core of our work and we pride ourselv•$ on the signlfficant kwe8bnent we make to their profgs&onal and arti￿¢ development. Thi¥ ensures the consistently high standard of delivery in scho￿5 that we expect. Each Artis Speaalist is 8 professional perfoming artlst and has a wealth of experfence 8$ an educator in primary 8chod$. We prowde training to skillod perfoming artists. en4b15ng their dwelopment as educators whilst continuing thelr careers on st*ge, scr88n, and across the ¢xealive industri&s. Arti8 S￿la1￿ are advocate$ in the heart of their 8¢hool communities. In 2022-23, we prO￿ded over 2.700 hours of training and n*rtoring to our Arti$ SFeciaists and $LVPOrted them to deliver ov8r 9,009 hours of pald work in schools. "I feel it's alltswe41 mg to unlock a b•llgf that I could bt i 8lgnlfl¢ant p￿ltiVe infl￿ne# in children's livos, •specially uslng wrformlng arts. It ha$ Increased my awareness of chlldrèn, development aTr(I learning. I have gain8d knowledge of how to plan offectlvoly and remaln calm within a chaotic environmenL" Artl$ Spo¢lall•t Advocallng th• Importanco of art8 In learnlng "For every £1 invested in the Artis programm•. thère 5s a colhctive gain of up to £32 for the child, governmont, and society." Pro Bono Ec¢nomics We are so Fleaged lo be w0￿1n9 with Pro Bono EconomKs (PBEI to gat￿r and ￿alYSe the impact Artis has on the Ch￿dren we reach through our work. In his latest blc*J. 'Understandin act is rnaralhon not a 5 rinl.. PBE'S Chièf EcorKsrnist Jon Franklin explains we have continued to improve our data analys1$ processes to bgtter undersland 1he benefits Artis hos on chlklren throughout I￿1r Ilfetlmes. Ovor the ￿[￿$* olourtimg Y￿rkIng wrth PBE. we have develoF•d our evaluation tool$ modols Ihot have en*￿ed us to see promising on9Jing results lèading on from our inffjal 8naly8i8. We are committed to continue ¢olleding, onalysing and understsndlnp our data- it is invaluable to U5 in ensuring that every can reach their highest potenlial through a￿9$81n9 a ￿•tive e(lucation. This will gfva u$ greater underslarn1ing of impac￿1 ourwork will be for childr8n 90ing fcrfward. and how that impact ￿n0fts the wideT comnwnity and economy. Artis is exclted to continue our evalUat￿n and impactlourney ￿th further amb￿OnS to continue intye¥sing year on yeaT our sample of children, and therefore growiNJ the resutts. "The education of young hearts and minds n•gdB to bè undortakon without fear or prejudice...thtrre can be no roorn for the barrl¢rs and divisions of the tyjtside world." Nltln Sawhnry CBE (Dhushum), Arti• Patron ARTIS FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 TRUSTEES, REPORT What thg childrén w• work with Say about Artls "tt helps me leam bocau8e it 1$ fun and educational. I know wo are leaming hi$tory. bJt It doesn't fegl like learning b•¢ause it is fun.. Yfrar 3 Pupil 'ut helped me to undw8tand words that I didnl know befrye." Yoar 3 SEND Pupll "Jangle 18 a brilliant. adve and h•fplul teacher and she makos u8 feel creafove and morn confident. I think we should do more Stuff lik8 this with Jangle but also in the p*ground.' Year 5 Pupil Vthat the tgachets we work wlth say about Artls "Cla88 2 have loved their Atlis spe￿￿1$1 STrwne sg$sions ov8ry w88k and squeaj ￿th delight wh8n they know a WetJne3day. Shine always dèlivers irmvative lessons that Inspire the thildren. Children have definitely grown in confidence and therr listening skills ttave imwoved a lot Since the start. Shine uses awpprowlate vocabulary that's challenging and ffts In amazingly ￿11 with our topics." Jen Lyon8 R•ceptlon T8ach•r. Bee¢hwood. Load• 'Chli dren who have teen a part ofth8 small group Int￿ent￿n9 have devdoped thdr speaking 8nd listen1￿ skills. Thi$ Indudes wtting their hand up more to volunteer an8wern and being more confident in sharlng Ideas in group wcik." Yèar 3 TeaGh•r "All their inhibf(ion$ seem to mdt aww and I feel that l ob$erve most of them fulty expre$$ing th•m8elves and btsing creative in which evw opp)rtuntty 18 presènted to them. I do believe that our ildren are very fortunat8 to have such an amazing opportunity to $upport thelr cwlfft growth and dev¥bpmenl.' Ann8 Henneltor Teach8r. Pallrey Inhnt School, W4l¥all °EVERY session that 18 delivered. d)Ildfyn ar¥ engag8d and respond well lo the inleracllve nature of the sessitsn.... Artls Is a qualty leaming tool, a positive •xwrierKe tsthg chiklren.. T•a¢hgr, Monks Copp•nhall A¢ad•my, Crnw• e canllor value OUI Anis sessions more. dley are a fantastic resource aod a key p4rt of the learning th&t takes place &t Parklands.. ARTIS FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THEYEAR TO 31AUGUST2023 TRUSTEES. REPORT Our impact How we aro doing? PBE c4Jncluded that the findings from th8 22-23 Study are consistent with the original Stu￿ and the Cost￿ffeCtIVenesS of our programme. Significant improvements were seen in pupils with high in￿"al need8 and Ihose on Free School Meas. The m8ntsl health improvemanls from the sample of Children a￿ slmllar ewugh to those of the previous year that it seem$ likdy that th8 Arti$ programme C￿onueS lo generate Significant value for money. In our oThJoing commitmen¢ lo elfectivety m￿lIOr and evaluate wr Impact. we are pr￿d to mark the completion of ourthlr(J year of data collectron using th• Pro Bono Econonwcs {PBE) toolkit. Notabty, we have increased the number of partner schools measuring childTen'8 progress in thair Arti$ se83ion8. Thls data-driven approach has played o pivotsf role in illu8lr41ing Artls, impac*. as shown in the PBE report. For each £1 of cost. the Arbs PTograrnme cwld gener9te up to £32 in Ilfotlme benefrts. £8.7K estimated average lrfetime benefft for thildr$n with elevated needs. If rolled out across all sthools in the top 20% of most dgprivod areas in England. the lifetime beneffts genetaled could be £3.3 bllllon each year. Estimated lifetime benefrt8 of Artis wogramme sinc• its creation in 2004 is £0.63 bllllon. Stories about our Impact Artls Is always d•llghtsd to hear about how the arts has ImpO¢t￿ on a partlcular chlld's Iltg. H•rn w• ¥hare four ¢08e $ludlg$ from our partner g¢hoolb. Casè Study 1: Chlld B has an edI￿ational health eare F4an and has tréen diagnosed wlth ADHD. Ha is in a large family ond his older brc•thèrs have struggled with educatton. Two of lis dder brothels OJTrently attènd a pupil referral unit and Mum has a r*gative V￿￿ of education. although does try hard to eryJage Mlh the school. The family a￿ eligible for pupil prenmum. B will sometimes prÈ$ent as obstructive and emotional and ¢an be extr8m•ty c*dlenglng. l am pl8asgd to say th8 change in engagement and enthusiasm 8 has shown towards the Arb$ se$$rons this year. H• has form8d a liknng towards Artls Speaalist Bosh and thoroughly onjoy$ the games and artlvlliÈ$ that Bosh lead5 on. Ha asks every Monday if 8osh is here and is responsive to all his instructions. B fully participates in the acting, whi¢h he didn't do last year and th8 muwc aspect of Bosh's so$$ions. B works well in pairs an¢J small group8 respÈdng everyone within that group. Al lim&J he leads on idèas and delegates roles but mosdy he wll allow other to lead him too. 11 ha8 been a pleasant surprise 10 8ee B flourish in the Artis sessions this yaar. Cas• Stsdy 2: Chlld G G has seJe¢bve mutism eaLwd by severe anxl&ty. lffien requlred to Speak lo people, this triggers a Ireezè response wth f881ings of panic. Th1$ has resulted in G refv81ng to take part In 8CtfvlUes or C3)ntributiNJ to d18rAJ￿onS in I&$K￿s. Hg will not even an8w8r when his nanx is called for the register. G has made signifi¢•nt progr88s in terms of communkation and partidp8tion in dasse$. Thfj8 progress is seen •¢ross most subjeth indudlng English, Maths. Comp. SCIen￿. History arK1 Wortd Languages. The of consistent roLatint3, establi$hln9 Irustiry relationshlps and encwraging non- verbal communicth'on has helped G lo start verbally communicating, in and out of lessons. Through Artos 8essi¢)ns. G h•$ made th8nds and his social and communi￿tion 8kHI8 have improved. ARTIS FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGLIST 2023 TRUSTEES. REPORT G has been able lo explore and experiment with movement. sounds. worf8 and texts. He 1$ now able to Use language ¢reatively and wlh intent lo convey his Idea8 and feeliros. His willingness during th• sesslon 1$ great and he ahvays participate$ with good energy, he use8 hi5 imagination and shares ideas wilhln group sessions. The level of G's communication difficultie$ ￿lOre Artis sessions compared lo now is significant. He now communicates and pa￿￿Pate$ eonfid8nly in the sessions and initiates respon$•$ during lessons and when he is with hls peers. Ca$9 s￿dY 3: ChSld A A 1$ English Add￿Onal Languago IEALI aTrJ due to this she could not verbalise her needs clearly and had dthculty in following Simple instructions. Before Arti$ sessions A was a shy quiet chlld who ladred ccthd8ncg and social skills. Since the Artis $ession$ A ha3 realty gain8d confidence in herself and we have noticed in dass that her conftl8n¢e and listening skill$ have improved. She tries her hardest lo communieattr her r￿ed8 and does not shy away. She has really enjoyed patlcipaling in the Artis $988ion8 and takes an actlve role during I￿Se sessions. Case Study 4: Chlld F Bef￿ Arti8, F was a timld quiet c*ild vtho lacked some confidence and social skills. She would very Quickly get upset over trivial matters and have not much gumption to bounce bad( to resume her lèarning activity. Since the Artis sessions F has really gained ¢xnfidence in hersell and we have notlced in dass that her listening Skills have improved and she is more willing lo take the lead in nver8ations. She 1$ dem0n51rn￿n9 her gumption during situats.ons she finds drfficult. She has really enjoyed partldpating in the Artis 8e88ions and we have noticed her volunteering for roles suth as the Chri3tma$ Nativity I￿aY which befo￿ any Arti$ partiupalion, She waB rell￿nt lo do ￿. Her partiopalion in story mapping has improved u)nsiderakAy as she has become less seJf•conwou3 and therefore nv)w willing tojcln in with actions. How wtr are funded Artis rel18$ on the vit81 support of our lunders. sponsors and partner schools who share our vision. Ourwork would not be possible wthout them. All donations recelved go towards growing our programmes for chlldren facing dis#dvantag8, d8v•loping teachers, supporting wellbeirs through the arts, and nurturing arts educators. Every donat'on and grant received by Artis is carefully 4located lo ensure that our programme is delivored lo the maximum ¢apacTty and value for money. Financial Review Total Income re¢ewed during the y88r amounted to £652,463 and total expenditur• dur￿￿ thi8 perlod am￿nted lo £644.442. Th& nèt increase In fvnds was £8,021. io ARTIS FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 TRUSTEES, REPORT 2021123 Exwndlturè br•akdown Fxpèndkn knth•y•aruAUIAugurt2K3 5Vh Delfvery of arts lea[r￿n9 kYogramm88 Discovering and nurturing ortists as educators 11% Advocacy 1rA GovemarKe 6% Fundralslng Investrnents The trustee$ are authori88d to live81 the assets of the charity in whatever way they believe to be In Ihe best interests of the charity and its objectives. Th8 eh8rily aco)unts are currently kept in a wrrent account, lo be readily available at short notice. The trustees do rnt wish to investth8 chanvs funds in any other mathèts at this thme. Principal risks and uncortalnties The principal risk facAng Ihe tharity as identffied by the Trustee$ 1$ the drfficuty raising income in order lo fund the Charity's ongoing acfjvities in the longer lemi. Our plan to rnitigale this risk is to eontinLre lo ensure future budget planning is carried out on a tlmely basis, with a range of scenarios presented for Board meetings. We plan to give $uffi¢i¢nl and regular 808rd attention to Ihls Issue 80 that appropriate steps are taken whern ￿e(led and to enable the Board lo take any ne¢essary actions at an eady stage. Thore is also a Finance Sub Committee in plac¢ and a Fundraising Sub Committee that meet wularfy to track the progress agalnst targets set. Reserves policy The charity aimB to operate wrth aFVDpriate regard to finan￿31 risks and IK4d back 8om• funds 8$ reserv88 as part of this. The rati￿ale for hdding reserves is to mrtlgale the fcllowin9 fina￿la1 risks: Irwne f￿ling if contr•th are not rongwod, and the tim8 that It may take to replace Income 8treams', major grant fundlng not bèing success￿1 at th8 for8ca$ted rate., eoverirKJ unbudgeted day-to4ay operatronal costs, e.g. employirg t•mp)rary staff to cover abson¢e due lo long-lerm sicknes$'. unforès8&n emergency ￿ other unexpe¢le(I need fcffunds. At the Year￿nd 31 August 2023. Artis held free reser￿ of £268,204 (2022: £237,183). Trusteos agr88d to designaté £65,000 frcffl free re$eryes for the foljowng 2 fvnctlons.. 1. £15,WO Team 8LbPP)rt tyjdget 2. £50.000 website and virt￿1 leamlng platfomi devek)pment li ART15 FOUNDATION REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST2023 TRUSTEW REPORT Al year-end 31 Augu812023 10t￿ unrestricted r•seryes were £268,204. Cash baance at the yeor-end 31 Augu$l 2023 £471,475. The trustees have resolved to kèep res•Ne funds of thra8 to six month$ operating co$ts, which would equate to approximatdy £94,000 to £188.000. Looking ah8ad 'We n8•d ar15 oducators who aro part of the fabrfc of wery piece and every level and •v¢ry dimension of the curriculum. Kwame Kw•iArmah (Wow} CEO of thè Young Vlc The&￿ & Arti¥ Patron In 2023124 we arg looking fO￿ard to part￿ring wilh 46 prfmary sthools *ross the county. We are also thrilled lo w&l¢ome new trustee8 to the board and the new formalon of the Equ81ity and Diva￿ty commrttee, who will b8 supportiro Ihg team with our ambltiOU8 target8. We are exat8d to fvrther incre8se our impact r¢ptsrbng next year. for the fourth year. and work with even more partner $¢hool8 to assist us ￿th thls loumey. Wth the adwce of Pro Bono E¢onom1¢5 and our robust monitoring and evaluation plans aThJ tsi98ts we ore confrdent that we c8n ensure we so even more progres8 in thi8 area. Wdre k)oknng fop*ard to partn8TFng with the Guildhall Art GaI￿ry again In 2023r24 with a project callèd The Blg Plcture which wll In￿le prtmary sthool chlldm from across London to lake part in an Artis session which links maths topics to one of the gallery's e8teem6d a￿lOrkS. We are a180 golng lo bg continuing our professional development training wrth NCRSE, and we will be working with Young CreaJva Bucks as port of their training forknhers and wrder oJltUTal tEts¥oth. Watd) thi8 8pac8 ￿ ye¥r, as we work with creolive ag8nty. Brnndple, lo support th development of our new id8ntity and vision for the future. Followng feedback from our netrwork of teach&rs in OUT partner schools, we have deslgned a 8eries of free online Continued Profe$8ional Dèvelopment workshops that offer easy. a¢cgssible idea5 for creative activib'es th* Support current prlodleg for sd)ool$. In 2023124 th•$e worksh)p$ wll include Supporbng Oracy through ewtivity, Cr•abvity for spg¢lal educatlonal nwd8 Inclusion and SuppOr￿n9 English as an addltlonal languago through cr•ativlty. Next year algo marks the f￿rth yeai of SUPFQrt from our ffTsI o)hort of picTherlng match knder$, and we arè excited to expand and wélcome n8w mèmbers to our Artis SchJol Patrons group as we PfC*Jress towards our goal of m8tthfvnding 50 primary sGhools. Tlls ort was opprov8d by the Trustees on 22 April 2024 and sign&a on its behalf by: R M Boyle Suh Co-Founder & Executivo Chair 12 INDEPENDENT EXAMINER'S REPOftTTO THE MEMBERS OF ARTIS FOUNDATION FOR THE YEAR TO 31 AUGUST 2023 I repcrft to the trustegs on my examination of the accounts of Ihe charitsble company fcf the year ended 31 August 2023. Rgsponslbllltl88 and ba818 of roport As the tharity Tru$lee8, who are also i*Yectors for the purposes of company law, you ar8 respwsible for the preparallon of the xcounts in aC￿rdance with the requiremen15 of the Companies Act 20C he2006ArtI. HaviThJ sali$fi ed myself that the a¢counls of Ihe Company S￿ not required to be audfted undor Part 16 of the 2006 Act and are eligiblè for independent examination, I rep?rt in resped of my examination of your charity'$ accounts carried out under géction 145 of the Char￿￿$ A¢t 20111.the 2011 Act'l. In carryiryj (xrt Irry examination I have followed thg DirecUon8 given by the Charity comm1s81￿ under section 14515llbl of th8 2011 Act. Indepond•nt •xamln•rn •tatOrngnt Sinc8 the Charitable company'$ gross income exceeded £2SO,000. your examiner mL￿t be a member bc#Jy listed in 8gCtk)n145 of the 2011 Act. I conlirm that l am qualiffied to undertake the examination by virtue of being a Fellow memberof the AssocAat¢on of Charity Independent Exanyners. which Os of the listed bodies. I have completed my examlnation. I confirm that no matters have o)me to my attentKJn in conneclion with the ex8minalion gi￿ng me cause lo believe that in any matérial re8ped'. 1. a¢￿Unting records were not kgpt in respect of th8 Company as required by seGtion 386 olthe 2¢X16 Acl., or 2. the a￿ountS do not ac£ord with those records,. or 3. the accounts do not ¢omply with Ihe requirèmwts of Sectron 398 of the Companies Act 20C6 other Ihan any requiramenl that the accounts glve a Irue and fair wev/ which18 not a matter consid&rod a$ part of an independent examination., or 4. Ihè 8ccounts have not b•en prepared in acco{dan￿ with the nthod$ and principks of the Statement of Recommended Practice for accountlng and reporting by charffjeg applicable to Char￿e$ preparing Iholr accounts in accordancewllh th8 Financaal Reporting Standard 8ppli¢able in the UK and Republic of Irel8nd {FRS 102). I have no t>)n¢erns and have come *r088 no other matters In c¥nnedKin with Ihe examin8tffito whith attention shcyjld be drawn In Ihls rewt in ordwto enable a prop8rund•rstanding of the ￿cOUnts to reached. Tom WFleox FCIE Ducle House Unit 115 37, Ducie Street Manchester England Ml 2JW 13 ARns FOUNDATION STATEMENT OF FINANCIALACTIVITIES FOR THE YEAR TO 31 AUGU￿ 2023 STATEMENT OF FINANCIAL ACTIVITIES Unrestrfctsd Fund¥ 2023 Restrfctsd Fund8 2023 Total Fufftds 2023 Totsl Funds 2022 Not•s Incom• from: DonÈtlon8 and legaC￿s.. Charitable activities.. Schocl incom• Interest 28,2SS 410.269 1,487 212,462 240.707 410,269 1,487 149,369 394,890 61 TOTAL INCOME 212 Expenditurn on: Ch81itable activities Raising fund8 387.378 44,612 212h52 699,830 44.612 537.934 14,034 TOTAL EXPENDITURE 431.990 NET INCOhlE 8.021 8.021 (7,648) NET MOVEMENT IN FUNDS 8.021 8,021 17,648) Fund$ brought forw¥d 325,183 325,183 332.831 Funds urried forward 333,204 333,204 325, 183 The annexed notes fomi part of these financial statements 14 ARTIS FOUNDATION (A Charitable Incorporated Organisation no. 1174635 BALANCE SHEET AS AT 31 AUGUST 2023 ## BALANCE SHEET ||Notes|£|2023
£|£|2022
£| |---|---|---|---|---|---| |FIXEDASSETS|||||| |Tangible assets|6||133||530| ||||133||530| |CURRENTASSETS|||||| |Debtors
Cashatbankand inhand|7|47,073
471,475
518,548||46,351
462,890
509,241|| |CREDITORS: fallingdue
withinoneyear|8|(185,477)||(184,588)|| |NETCURRENTASSETS|||333,071||324,653| |NETASSETS|||333,204
ooo||325,183
So| |FUNDS|||||| |Unrestricted funds:Generalfund
Designatedfunds
Restricted funds|9
9
9||268,204
65,000
-||237,183
88,000| ||||||-| ||||333,204
=—————||325,183
=————————| **----- Start of picture text -----**
These financial statements were approved by the Trustees on 22 April 2024 and signed on
their behalf by:
bec 4 f maida Rebecca Boyle Suh
Y Mark Friend
**----- End of picture text -----**
15 ARTIS FOUNDATION (A Charitable Incorporated Organi5ation no. 1174635 STATEMENT OF CASH FLOWS FOR THE YEAR TO 31 AUGusf 2023 STATEMENT OF CASH FLOWS 2023 2022 Cash providod by operating activit1•$ Net movement Sn ￿ftds Add back depreaation tharge L8s$ intere51 incom8 Decreasel (In¢￿a$¢I in debtors Inuease in creditors Nèt cash provlded by op•rntlng actlvldes 8.021 397 11,4871 17221 (7.648) 397 (61) 733 19,263 7.098 12,684 Ca8h flows from Inv•8tlng actlvlti Interest inrx)me Purthasg of tangible fixed assets Net cash {u$ed in} In¥e$tlny actlvltles 1,487 61 61 In¢rease in cash and cash equivalents in the year &S85 72.745 Cash and cash equivalents at thè beoinning of the year 462.890 450, 145 Total cash and c•8h Oqulvalonts at th• ènd of the year 471.476 462,890 16 ARTIS FOUNDATION NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR TO 31 AUGLIST 2023 I. ACCOUMTING POLICIES Charfty Infomiation Arti8 F￿ndation is a charity domicilefj and incorporated in EngLqrn1 and Wales. Th8 regi$tsred offi¢• IB 311 Union Wharf. 23 We￿ock Road, London, N1 7ST. Bas1$ of prnparntlon of financial stat•ments These finanu#l slalements have been prepared under the historical cost ￿nVentIon in accordan￿ with Financial Reporbng Stsnd¥rtl applica￿9 in tha UK and Republ￿ of Irela￿1 IFRS 1021. The Charity is a publbc ￿nefit entity lor the purposes of FRS 102 and therefore has also prepar•J the ffinanaal statenEnts in accordance with thè Stslement of Recommend Pra￿1￿ apFAicable lo charities poparing thelraccwnts in ¥c¢ordancewilh the Financial Reporting Standard applicable In the UK and Republic of IrelarKI (The FRS 102 Charities SORPI and thè Chariti88 Act 2011. The Ifuslees have assessed whether the use of th& going COn￿M bass 18 appmpriate and have considered possI￿t events or cc4)diti"ons that might cast Slgnrficant doubl on the abilty of the Charity lo continuo as a going concern. The trustees have made this assessment for a period of 81 least one year from the date of approval of the financial statements. In particular, the trustees have con8l¢Yered the impact of the Covld-19 outbreak. Thi$ h¥3 resulted in the risk register being updated, s8curing amergency fiJndin9 from Arts Council and London Community Fund, moving the programme online during the lockdown to 8nsura projected income, new 3-ye8r match fvnding secured from philanlhroimsts and a corporats, an increase in reserves, and reduction in rontral cost8 with ￿￿Val of office. We have not needed to use the furfough scheme as a result of the pand•mi¢ and incleased our fundraising efforts to ensure our ongcing 8UCCèSS. In¢orne I￿rne is recognisod whèn the charity hss enlillement to the fvnds. any pertom)ance Conditions attaehed to the income have ￿8n mel, il is probable Ihat thg income will be received antj that the amwnt can be measured rdkgbly. Expènditur• Expenditure is recognised On￿ thern 1$ a legal or construdive obligation to make a payment to a third party, il is probatAe that settlement will be required and thè amount ol the obligation can measurad r•li•bly. Expenditure is cLg8sified under th8 folkJvlng aclvity hèadings.. - Costs of ra181ng fvnds comprise of tradlng costs aThJ the costs in¢urred by the charitablè company in indurAng third parflgs to make voluntary conthl￿tIOnS to i( as well as lh• cost of any activities with a fundraising purpose. Expendiluro on charitabl8 actlvltles Nidudes the cosls of deloverfng the edL￿tiOnal actsvities urKJertaken lo ffiJrth8r the purposes of the tharty and their associated $UPKK)rt costs. Support ¢osts are th08e functions that assist the WO￿ of the ¢haTty but do not direcly undertake tharitabl8 aeb￿be￿. These costs have been allccated btheen cost of raisin9 fund$ and exptsN1iture on charitable ¥bvities. SuFVOrtcosts have been apportioned on thg basis tsf$t•ff time. Irr8¢overable VAT is charged as a cost against the ￿t1¥ty fur wh￿h the expendfjture wag Incurred. Fund accountlng Unrestricted fu￿18 are availableto spend on activrlies thatfjjrtherany of the purptsses ofthe charity. Restricted funds ar8 donations which the donor has specified are to be solety u8ed for particular areas of the ¢harity'8 work or for spètsfic projects being undèrtaken by the tharrty. Further explan*ion of the nature and purpose of eath restricted 1$ Included in the notestothe financial stslements. 17 ARTIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 Tanglblg flx•d as••ts Items of equipn*nl are ¢apil¥lise(I where the purchase pric• exceeds £1,OC(J. D8wedation is provided at rates ¢3kul¥ted lo write down the c￿$1 of each asset ID It$ e$timat•d residual value over its expeded us8ful Irfa. The depreaation rales In u88 are as follow3.. ComwrteT equipm•nt- 3 years Straight lin8 Dobtors Tr8de and other debtors are ￿eC￿rIsed at th8 setUam•nt amount due after any trade dlscount offered. Prgpayments are valued at the ￿OUnt prepald net of any trade disLx*unts (Jue. Creditors and provisions Creditors and provisions are recognised where thè chorily has a present ot4wabon resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to ettle the obligation ¢an be measured or estlmated reliably. Credit¢xs and prow$ions a￿ nOM￿llY recognised al their settlement amwnt after allowing for any trada di$¢ounts due. Taxation The charity is oxempt from ccKporat*)n tsx on Its ¢harit>ble activities. P•nslons The tharrty provldes a daffned contribution pension Scheme lo current employ88s, the assets of whid) ¥re held separately from those of the company in an lrnlependently administered fund. ConlribLttions ar• ¢hgrged lo expenditure as they fall due. Slgnlficant judgments and sources of 9￿MatiOn uncertalnty The preparation of finan¢ral stslements in ￿Mpl￿ance with FRS 102 requires the usg of cejtsln tritical accounting estimates. It also requiw management lo 8x8rasè judgm•nt in applying the Charity's accounting pc4icie8. The key judgements that h8ve been applied by management relats to dgprociation rate5. 18 ARTIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 2. DONATIONS AND LEGACIE8 CUnpnt￿r iknr**lri¢led Regtri¢ted Funds Fun 23 2023 Totsl Funds 2023 DJnation8 Grants 28.255 211452 240,707 212.452 240,707 PnTor)*•r T¢)tal Funds 2022 Funds 2022 Funds 2022 0￿7811￿S Gr8nls 12,383 13¢980 149,36 3. EXPENDITIJIE Direct Stsff Direct Support Totsl 2023 Charitab￿ 8¢tThotiès'. Scho¢Y actThit*s A(hrKatlng the arts IC0￿ring and nurtunng artSsts Total charitaNe 109.584 055 276.314 20.519 49,298 17.570 43&196 77.144 21fJ32 171271 S3.227 350.060 10.631 87,490 599.830 RabiThJ fvnds 1.000 13.532 44.812 202.351 351.060 91.031 $44,442 Cwails of suppc￿t costs are gi￿ in Not8 4. Support costs ar¢ alloc?¢od ba$od on dira¢t PRIOR YEAR Lbred Si8ff 1$ ct SuKwt sl eost8 rotal 2021 Ch81itabl8 8Ctibilies Sclml &ctMtfys AdKYatino thg arts 018¢0￿￿r￿j and nwturing artvtsls Tota choritable 95.091 44.233 242.383 24,915 34,427 16,014 371,901 85,162 30,110 169,434 39,86t) 307,158 10,901 61,342 80,871 537,934 Siw funds 10,904 1730 14.034 179,738 7,758 64072 551,968 ARTIS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST2023 SUPPORT COSTS Totsl 2023 Tofol 2022 G¢)wnance costs.. B0￿d costs I￿￿￿)dent ￿minatIOn 149 1.2fy) 1,349 1,320 1.320 Othèr support cosls: Staff costs Tdeph)r temet aThJ IT PrintiThJ, postage and $tstion¥y Other office expenses Accountancy Insuranca Recruitment DeE￿lat Bank charges 50.119 34,303 2, T82 5, 753 9.242 1,901 2,061 15.468 9,81XI 150 397 130 871 14.424 2,941 397 73 91.031 65,072 EMPLOYEE AND KEY MANAGEMENT PERSONNEL The key rnanogement pernonnel ofthe Charity comprise the trustees and Senior Managem8nl Team. The total am￿￿1$ pald in r8specl of the key management personn81 of the Charity (Including efflF4oygrfs National Insurance contributions and employers pension contributions) ￿re £101,509. Total 2023 Total 2022 Th8 agg￿ate payroll costs ￿￿8.. Wages a￿1 $￿a￿eS Socia security Costs Employer pertsion conlribJtions 152.795 131,3Ci8 3,869 4, 175 139,3 74,691 4.654 164,798 87.672 Temporary staff 252,470 214,041 No emp&Jyees eamgd o*r £eA).otO in the year cff th8 pr8Mous year. Ihe ￿rage monthly number ofemployee8 durfng the finartial year amounted lo 5.6 (2022.. 4.8} 20 ART15 FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 TAN(¥8LE FixeD A8SEf8 Comput•r gqulpmg At 1 September 2022 Addition& in the yoar At 31 Au9u$I 2023 4,681 681 A¢cufflulatsd d•pr•el•llon Al 1 September 2022 Chawè frjr ttrt year At 31 August 2023 4161 397 t book v4lu• At 31 Augu812023 133 At 1 S8Ptember 2022 7. DEBTORS 2023 2022 Trzde debto Other debtors Prepayment6 43,870 203 2.996 42,863 3.488 47.073 46,351 8. CREDtTORS: AMOUIITS FALLING DUE WIThIN ONE YEAR 2023 2022 Tr* crtraito Taxalron social sècurity Pension wyab AccAJ81s Otl*r creditors D*rwl incoma1s88 1,631 1, 737 24, 166 3,261 IH,2 19.971 917 137.167 1B6,477 184,588 Deferr*d in¢¢Mne 2023 2022 Balan¢0 al the teginnirq of year Amount rekased to irtome in fv year Amount ￿e￿[￿d in the yaar. School income Grarrts lindw1ing Match fundiry relotin9 to lh& followNJ financial y8ar) 144.253 11315641 140,016 [140.016) 21,378 122,875 126,479 BaL8rKe at the ern1 of th• yaar 137,167 144,253 21 ARTIS FOUNDATION NOYES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 STATEME1￿ OF FUNfK8. ¢LfflREpif YE4R Brought fDrward 1 8ept•mb&r forword 31 Aullu 2023 Income Exp9ndi￿r# Trandg Res1￿(1•￿ S¢htrJl prog￿￿Me$- molch fiJTrkn 211452 I￿1452) Tolal rBstrI￿rt fvnds.. 212A52 1212,4521 Unrest￿ted FuTrJ5.' Gerer81 fvr 237.183 440,Ni 1431,9901 26i204 Designat￿ FuTrJ8'. 14OL¥J 7&0 113.NOI 1740001 14000 Hardship Fund Team Virtual Le8rnirg P1alfc￿￿ 1&000 Tcial Fu￿¥ 34183 652A63 1644,4421 333,204 Matrh•d fundng ¢ontdbulion thjnd . Mal¢h fvrnling fu Arti$ Partmr Scho)￿ bas&J In of ocornm Hardthip Fund. TnJsla88 agreed to d85wJn*g fun(* 10 8LWrt Artis Partrw whjsa Wet has Lwi aokndy impacted ty the cc61 of lThing GriSkB. 1th STATEMETr￿ OF FIAIDS- PMOR YEAR Ic*M8trl 31 Awl 2ff22 Soptéfftber 2021 SchcbJl Prc¥￿￿Mes - match •JTrJ8rs 13a986 {7349861 Ttknl ￿￿trict•￿TL￿￿s.' 731986 {136.986J ihKostrfct8dFth*." 332,837 407.334 1414,982) (88.CWI 237.7&3 MatGW fiJndirs cNtrib￿1On Fund lit) 74LiX7 74OC ap8 S44,32Q (557,968) 32& 183 10. STATU1￿ OF FLWDS. PRIOR YEAR IcoKnNiIEDI Matched fundlng contrlbthlon fund . Match li￿(￿rg ljr Artts pArt￿r In areas of ￿0￿¢th a1￿j r*pn*t￿jTh. Hardthlp Fund- TtUStees to designite fuThd$ to Arfis Part￿r stW5 *th05• ts￿get ha$ impacted cost of I1￿￿￿ ¢ri$ts. 22 ARTIS FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR TO 31 AUGUST 2023 10. STATEMENT OF FUMX - PRIOR YEAR ICONTINUEDI Tho Phll4nthMpy Club Support (Jonathan H&rrf¥- A ￿•11¢n to SUPWrt our A￿￿ra[$1￿j efvrts *ith wr phll**hrcpy club vEkom•J. 8n*led u$ to enyw fr88kncg fvt)Jrai$iny SUFPOrt aTrJ ￿ce on kning •KI Malrrt￿[1nq s￿h É elublo t￿P irKw$e ¢￿015¢n$ fr*Artis. Arts l*rfjlage Alll4nt• Mllton ￿yneS S¢hools Connect - Follv*iTrJ Ihe succ88sfv1 Yw. Me, Tcwher pr48cI Ihal t¢xl¢ in January 2014 Artl$ aThJ Millcm Cuttural EduGaticn part￿rshIp dthtsed On exlend•J merrt81 afth 8rKI program￿￿ ffixsch¢rAs which incowales • CPD prtgrarnme ljr lea¢￿r$. Ik95 b8en delhered In colL9￿ra1hJTr ￿1th Arts & Herfiaye AlIk8r￿e Mitton Keyne5, and Supporfed inwstmenl Art5v￿rk. Artis Wo￿0￿ in 5 5choJb thrw 6 harfday cTrati￿ wrrtshcps Wr2019￿0. And ¥Alh 8 5 fjjrt￿r $chwL4 th 2W20121. Tea¢￿ts t*e p8rt in the Se$$￿￿. aTrJ each scw a hsilbhl staff ¢PD wtykshop ￿th1¢h CreAt￿t Ic•)l$ fr)r building resI1￿rKe in tl* ¢lassrwm. Th wuJrnmme aims lo childEn a greater under81aThJiw ¢rfYthat il lo be Ment￿ty Theatthy" and htrw Ih8y can Ihe orts to ex￿853 Iheirf881Iry$. 15 Anywhere Phag• t London Communlty R•spon88 Fund - Arth w8$ $UGcesslJl n securtng oN)t imdir trom the LoThJcffj Communty Response whi¢h enab￿￿ u5 lo continue lo deliwr cre*he ￿arnIng ses$iors to 7,560 In the top 2￿A mr6t depn1￿ 8reAS of tIE UK, aThY 1240 chIld￿n wrthin LoThlon btrough Through thi5 svdnt surptst ￿ were abk lo offer t45pc4Le Ngh4uol¢ly Croat￿ 18arning $•s$itX)S kn our part￿r $¢ho)l$ Krog$ L¢NJon lh1o￿h o new remot*teachiTrs ￿ebsite. School ProArnmme8- DM81ions to SiPP)rt Ihe d811*ry of Artis art8 8thxalbn prLY4rarnme in primary schoo other art$l&a￿all￿ ¥ettlry$, Artl$ Anywh•rn.' Arts Coun¢ll Ewland - The CvAd-19 paTKknic pruerled ￿ fmm our 'normal' on-slle prthisiC￿ for the majority ofthe 20121 year. This t￿￿ a Sudden aTrY yofwnd wnpact on Arti8. the r*oplè ￿ woth vlilh and those ￿ surport. We immedlatety $uspend•J on4ile P￿1$1￿ to OWT 30 schr¥)k dirBclly wtth 7,560 ChI￿reTh each ￿k1, 8ThJ erwllernont of ow tr￿arKe arts educ8torB. Thi$ ￿￿11r* e58enliAI dvrfn9 thal Feri&Y. Choryl IAoknihz: Tho HBth8 Foundaiion for Lifelong Learring - The H8rri5 FeuTrJ*K)n tsr LI￿0￿ Loamlng nereu8ly dtsnat￿ £4,875 ljr Arils to in collaboration Wth the pc*l Ch8ryl Mosk0￿2. Cheryl 1$ a Pcd and f￿llita10r of %witing for ehihdrth. She worf¢$ *ith ￿rioUs organisations In •ddition to Artls, IrLludNJ Ihe Portry SCL￿ty, tho Pc*try School. Soutlthnk Cgntrg. Cr￿e Arts Ihe Britl$h Coundl The fiJt)thrKJ ha¥ irLludvd her leading tNnity 8evdions br Specigli5ts in J8t)uary, April and Augus12020, the pffjiision ef Onli￿ tralnrt fesources L*Jth our S￿la11$￿ and Kmois, ￿￿ting t4￿j8. Mat¢h Fundlng M•fketSng & Ononymou8 DO￿r41-Arti8 receNed an anorryrnous dmation aim•J at en8blirg us lo irfrea5e ￿r fvndraslng effort5 to achme m8t¢h bJnding mojel 2020121. Tths money 8nabkd u$ to etyagB 8 fiEdance fijndraoerto hdp us with some bkl %bTiling to 8xpaThJ ourkndr4i51Ty aclNti85. 23 ARTIS FOUNDATION NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGUST 2023 11. AP14LYSIS OF NEf ASSETS BEfwEEN FUTr￿>3 iknvestrlcl•d fJe¥ignatsd ￿￿1¢I•d Funds Fund¥ Funds lotal Funds Tangibl• fix&d assets Net ¢urr￿t assets 133 26B.071 333,on 268.2ts4 i￿￿tricted tbslgnatOLI Rgstricted Funds Funds Funds Funds PRIOR YEAR Tangible lixed assets Net assets 236, 6&7 4,6 237, 1a3 88,QGQ 32& 183 12. RELATED PARTY TRANSACTIONS Tho chanty reed￿ specialist m8ntorfThJ and specialist ￿￿￿ery $￿ICe5 from M5 Wendy Steatham, a Iru$t89 olthe charity, fr)r £3,812 in th8 fjnawid yw12Q22.' £5.8281. ND cther truste98 lor ary Fersons eonne¢ted ￿1th th&nl any remuneration or t4n8fits from the charity durin9 the year. 24